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(MoneyNewsWire.Net, April 02, 2018 ) Traditionally, babies have been fed with soft home cooked food, a practice that is still in style in underdeveloped and developing countries. However, growing urbanization and ever-changing lifestyles have enhanced the demand for prepackaged baby foods in several societies and cultures. These foods are fed to babies between the ages ranging from four to six months and two years.
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The North America baby food market was worth almost $17.66 billion in 2016 and is predicted to be growing at a CAGR of 5.54%, to touch $23.12 billion by 2021. Growing awareness for nutrition, rise in organized retail marketing, urbanization paired with a major increase within the count of working women population act as key factors that boost the market growth.
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Declining poverty rates and rising disposal income of many of the countries in North America have boosted the adoption of baby food product. Existing baby food makers have enlarged their product ranges to incorporate organic variants, typically through mergers and acquisitions. Several new companies have additionally forayed into this sector with specific offerings to explore the huge potential of this market.
Primarily, thanks to rising population of working women, rise in organized retail selling, and their concern for good nutrition for babies. Moreover, production of baby food under strict health and safety standards has helped grabbing the attention regarding the utility of prepackaged baby foods in providing the desired nutrition for babies. This successively has escalated the demand for baby food within the world market. in addition, baby food is gaining popularity within the high-income societies as a part of their status quo, particularly within the rising markets, that is predicted to more drive the baby foodstuff in rising economies.
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The North America baby food market has witnessed vital growth over the past few years. And the market growth for ready baby food in developing regions would increase its pace over the forecast period, consequently resulting in the dynamic growth of the baby food market.
The major market players in the baby food market are Danone, H.J. Heinz, Bristol-Myers Squibb, Baby Organix, Beech Nut, Abbott Nutrition, Plasmon, Stonyfield Farm, Babynat, Fasska, SMA Nutrition, and Hero.
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